CSIRO research identifies new gold targets at Navarre Minerals’ Stawell Corridor project

Navarre Minerals CSIRO research identifies gold targets Stawell Victoria ASX NML
A collaborative research project has revealed several new prospective sites along the flanks of the Victorian project.

Research by Australia’s national science agency CSIRO has identified several new sites prospective for gold mineralisation along the flanks of Navarre Minerals’ (ASX: NML) Stawell Corridor gold project in Victoria.

The Stawell Corridor is an extension of a corridor of rocks that hosted the historical 5-million-ounce Stawell and 1Moz Ararat goldfields.

Navarre and CSIRO have now completed a collaborative research project at the corridor, which has identified several new sites prospective for gold mineralisation along the flanks of the Irvine and Langi Logan basalts within Navarre’s 100% owned project area.

The research project was partly financed under the Innovation Connections scheme by the federal Department of Industry, Innovation and Science, the remainder being paid by Navarre.

Navarre considers there is significant potential to apply computer simulation, not only for mineralisation at depth at Irvine and Langi Logan, but also for five other basalt domes to be appraised within the Stawell Corridor project.

4Moz Magdala deposit provided template

Navarre said earlier research on the nearby 4Moz Magdala gold deposit in Victoria, now owned by privately-owned Stawell Gold Mines, has provided it with a “deep understanding” of the structural evolution of a multi-million-ounce gold system.

This has been used as a template to predict where gold mineralisation may occur on other basalt domes within the Stawell corridor, the company added.

Navarre managing director Ian Holland described the outcome from its “cutting edge” collaboration with CSIRO as “exciting”.

“Our Stawell Corridor gold project contains at least seven ‘Magdala’ analogues in a 70km-long tenement package south of, and on strike of, Stawell’s 4Moz Magdala gold mine,” he added.

Mr Holland said Magdala’s gold mineralisation is believed to have resulted from periods of high fluid flow during episodes of high geological strain.

The aim of the CSIRO research project was to reduce the search space along the corridor by predicting areas of potential concealed gold mineralisation that can be targeted with direct drill testing.

Other Victorian gold projects

In June, Navarre acquired a 100% interest in the Jubilee gold project, located 25km from Ballarat.

The 122sq km licence area includes the historic Jubilee gold mine (operated 1887-1913) that produced 130,000oz of gold at a recovered grade of 12 grams per tonne from a single reef.

Since the mine closed in 1913, there has been no reported modern attempts at sustained exploration. No drilling has been done.

Navarre is currently compiling historical reports and undertaking surface geological mapping at Jubilee ahead of the fourth quarter drilling program.

The company also has the Tandarra joint venture with Catalyst Metals (ASX: CYL). Catalyst, the joint venture manager with 51%, is targeting mineralisation below the main Tomorrow structure northwest of Bendigo.

Join Small Caps News

Get notified of the latest news, events and stock alerts